-15.49(-0.98%)

+0.19(+0.31%)

-1.40(-0.11%)

-0.02(-0.09%)

+0.00(+0.09%)

The States with the Most (and Least) Affordable Colleges

Average in-state tuition at public four-year universities rose by just 2.9% this year, the smallest increase in more than three decades, according to data released last week by College Board. When adjusted for inflation, it has barely increased at all.

In the current school year, the average cost of tuition and fees at a public, four-year institution for an in-state student is $8,093. At a private four-year university, tuition and fees are more than $30,000. With the cost of tuition for private universities still astronomically high, more students may be opting to attend a public school within their home state.

Not all school systems offer the same discount relative to private education. A student attending a public university in his native Wyoming pays an average of just $4,404 in tuition and fees. Meanwhile, a New Hampshire native would spend $14,665 to attend a public university at home. 24/7 Wall St. reviewed the 10 colleges with the highest and lowest average in-state tuition and fees.

It might be assumed that the states with the highest tuition and fees would have the best colleges, but that doesn’t appear to be the case. Based on the U.S. News & World Report’s ranking of the best public four-year institutions, only four of the states with the highest tuitions have a school in the top 20-ranked universities. Meanwhile, North Carolina and Florida, both of which have among the lowest tuitions have colleges in the top 20.

Some states invest much more in their public institutions than others, and it appears that this translates into lower costs for their students. The two cheapest state university systems, Alaska and Wyoming, each had more than $15,000 in state appropriations per student. By comparison, only two of the 10 most expensive college systems are in the top half, nationally, for per-student appropriations for higher education. In New Hampshire, the most expensive state, appropriations amounted to just $2,482, the lowest spending in the country.

Usually, the cost of in-state tuition at the state’s best-known public institution is a good indicator of how much all of its colleges cost. The three most expensive states for in-state tuition also have the three most expensive flagship universities -- New Hampshire’s UNH, Vermont’s UVM, and Pennsylvania’s Penn State - University Park. Penn State has an average in-state tuition of $17,926. In contrast, at the 10 least expensive state school systems, only one has a flagship school with in-state tuition and fees of more than $8,000.

One factor that may affect the higher tuition in many of these states is their relative cost of living. It follows that because the states have to pay more in salary and supplies, they would charge students more. In seven of the 10 most expensive public university systems, the relative cost of goods are among the highest in the country. In the states with the least expensive universities, the cost of goods is generally lower, but does not appear to be as much of a factor as it is with the most expensive states.

Some of these states also may charge in-state students less because they levy a high premium on out-of-state undergraduates. In seven of the 10 least expensive states, students from out of state spend more than three times what natives pay in tuition and fees. In North Carolina, out-of-state tuition and fees are $21,352 per year, compared to just $6,514 for in-state residents.

24/7 Wall St. reviewed College Board’s 2013 Trends In College Pricing’s list of average tuition and fees for in-state students of public colleges and universities for the 2013-2014 school year. We also reviewed from the report current average and historical inflation-adjusted tuition and fees for public two-year and private two- and four-year universities. College Board also provided these figures for each state’s flagship university, which is considered the most prestigious public university within the state. From the U.S. Census Bureau’s 2012 American Community Survey, we reviewed household income data, as well as the proportion of state adults with a bachelor’s degrees. From the Bureau of Economic Analysis, we reviewed the relative cost of consumer goods and services, by state, for 2011. Figures on student debt for the class of 2011 are from The Institute for College Access & Success (TICAS), while 2-year default rates for the 2011 fiscal year from the Department of Education.

Between the 2012-13 and 2013-14 school years, average published tuition in Washington decreased slightly. However, over a five-year period, tuition and fees went up by nearly 60%, one of the largest spikes in the country. The University of Washington increased its tuition by even more -- 69% -- over the same period. Located in Seattle, the school is one of the oldest public universities on the West Coast, and known as a cutting-edge research university. U.S. News & World Report rated the school 16th among all public universities. According to reports from earlier this year, rising tuition has come from massive cuts in state higher-education spending.

Tuition and fees at public universities has declined by 2% from 2012-2013 to 2013-2014 for in-state students. In July, Rhode Island passed a budget that froze tuition by allocating $6 million to state schools, according to the Providence Journal. However, Rhode Island remains one of the most expensive states in the nation for college students. Not only in-state students face a high cost of attendance at Rhode Island’s public universities. Out of state students pay more than $26,000 on average to attend the state’s schools. These students accounted for 56% of the all first-time freshmen at public universities this year, trailing only Vermont.

At the University of South Carolina, students from out of state pay more than twice what state residents pay -- $28,528 compared with $10,816. Another South Carolina university, Clemson is more expensive for all students, but is among the top 25 public schools in the nation, according to U.S. News & World Report. Median household income in South Carolina was relatively low at $43,107 in 2012, just ahead of Louisiana and Tennessee. Despite low incomes and the high cost of higher education in South Carolina, college attendance is up. Over a 10-year period, South Carolina saw one of the highest increases in full-time enrollment at public institutions, up 36.8% between 2001 and 2011.

While the cost of attending a public four-year university in Delaware is among the highest in the nation, attending a private university in the state is actually quite inexpensive. On average, tuition at a four-year, private non-profit university is just $14,407, fourth-lowest in the nation. Additionally, while the cost of attending a public university in the state is high, just 60% of students at these schools are state residents, one of the lowest rates in the nation. Out-of-state students spend quite a bit to attend Delaware’s public schools, paying an average of $27,818 in tuition plus fees. Also, while the cost of a public education is high, Delaware’s residents are among the wealthiest in the nation, with a median household income of over $58,000 last year.

University of Michigan students who are not state residents pay a $25,715 premium, resulting in the highest tuition and fees in the country. Even though the cost may be worth it -- U.S. News ranks the University of Michigan - Ann Arbor fourth among public universities -- most university students in Michigan are state residents. In the fall of 2011, there were over 400,000 full-time students enrolled in two- or four-year institutions, among the highest enrollment in the U.S. According to MLive, the state’s higher education budget has dropped by over 11% since Governor Rick Snyder was elected. As of 2011, Michigan spent under $4,000 per public fully enrolled student, one of the lowest figures in the nation.

Although consumer prices in Illinois were roughly in line with nationwide prices as of 2011, the cost of college -- a major expense for many Americans -- in the state is among the highest in the U.S. The cost is not driven up by a lack of public expenditure, however. In 2012-2013, Illinois appropriated nearly $9,000 per student for higher education, among the most in the nation. However, the state is in a major fiscal bind, with over $100 billion in unfunded pension obligations. As of March, “state aid for Illinois' public universities [had] declined 27.6% when adjusted for inflation,” according to the Daily Herald.

4. New Jersey > Average tuition and fees: $12,715> Pct. 5 year change: 11.4% (7th lowest)> Pct. students in-state: 92% (the highest)> Cost of out of state: $25,236 (13th highest)

New Jersey’s public university students are disproportionately state residents. More than nine out of 10 first-time freshman at state four-year universities are from New Jersey, the highest figure in the country. Rutgers, the State University of New Jersey and one of the best-rated institutions by U.S. News, is renowned for its graduate school of education, as well as its graduate philosophy program. In-state tuition at Rutgers is $13,499, one of the most expensive rates. Students from out of state pay more than twice as much. Over a five-year period, public university tuition increased by over 11%, but this was one of the smallest increases nationally.

Pennsylvania has the nation’s most expensive flagship university, with in-state tuition and fees at Penn State’s University Park flagship campus costing nearly $18,000. Across many its campuses, according to the Institute for College Access And Success, the university was a high debt public college, with graduates owing more than $33,000 on average. Alternatives for many students are not especially inexpensive either, with public two-year colleges costing an average of more than $4,400 and private four-year institutions costing more than $35,000 -- both among the highest in the nation. Many residents may be willing to spend so much on education, especially at Penn State - University Park, which was the eighth best public university in the nation, according to U.S. News & World Report.

2. Vermont > Average tuition and fees: $13,958> Pct. 5 year change: 15.9% (14th lowest)> Pct. students in-state: 36% (the lowest)> Cost of out of state: $34,055 (the highest)

Over 150 years ago, Justin Morrill, a congressman from Vermont, set the stage for the national network of public universities in place today. Morril’s vision was to make college education available to any qualified student. Vermont’s public institutions, however, are among the most costly in the country -- for out-of-state as well as in-state students. Despite very high out-of-state tuition at the University of Vermont, the proportion of students who are not native Vermont residents is the highest in the nation. Perhaps as a result, the average debt among the classes of 2011 at Vermont public universities -- over $28,000 -- was also among the highest in the country.

Although the cost of attending a four-year college fell 1.6% last year, New Hampshire is still the most expensive state in the nation for higher education. The state’s most prestigious school, University of New Hampshire costs in-state students over $16,000 annually, more than all but one other flagship university nationwide. Last year, the university’s main campus was labelled a high debt school by the TICAS. However, college debt in New Hampshire was not just high at one university. On average, 2011 college graduates had more than $32,000 in debt, the highest figure in the nation. One possible driver of costs: state appropriations for higher education were the lowest in the nation, at less than $2,500 per student.

Students enrolled in public universities in North Carolina pay nearly 40% more tuition and fees than they did five years ago. The University of North Carolina at Chapel Hill hiked its tuition by 6.3% since last year, one of the largest increases in the U.S. Despite rising costs, students will likely receive less for their money than they would have several years ago. The 2013-2014 UNC budget included $114 million in budget cuts, forcing the system to cut dozens of positions. During the previous school year, school year state funding for higher education was actually among the highest in the country, at $11,743 per fully enrolled public school student.

Nevada charges in-state students just under $6,400 in tuition and fees on average to attend a four-year public university. This is down 2% from the year before, the largest decrease in the nation. Attending the state’s most well-known school, the University of Nevada-Reno is only slightly more expensive, costing roughly $6,600 for in-state students. The low cost of attending school in the state means students do not have to take out a great deal of debt. In the class of 2011, students had less than $20,000 in debt on average, while just 44% of graduates had debt, both among the lowest percentages in the U.S. The state is also considering adding a second medical school, at the University of Nevada-Las Vegas, in the coming years.

Even with a 56% increase in tuition over the last five years, Florida is home to some of the least expensive public universities in the country. The University of Florida, which was ranked 14th best public school and among the top 50 out of all U.S. schools by U.S. News & World Report, is one of the country’s largest universities. Full-time enrollment at the flagship school was 29,984 in 2012. Altogether, the university has nearly 50,000 students. Out-of-state tuition at the university, however, is more than four times the cost for a state-resident, at nearly $30,000. For non-residents, attendance at the university includes a $22,277 premium, one of the five most expensive premiums among flagship universities. The number of full-time two- and four-year students in the state ranks high as well, at nearly 600,000 as of the fall of 2011, up by nearly 48% from 2001.

Although in-state tuition and fees at public, four-year universities has risen 3.6% from last year, and 29.1% in the last five years, Idaho remains one of the least expensive states in the U.S. for attending college. One factor that may limit costs is the state’s low cost of living -- consumer prices in Idaho were just 93% of what they were nationwide in 2011. Another contributing factor may be that nearly a third of students attending Idaho’s public universities are from out of state. Out of state attendees pay almost three times what in-state students pay to attend Idaho’s universities. However, Idaho is also hoping to reverse years of cuts to K-12 education spending, which some fear could limit spending on the state’s higher education system.

Less than one in five adults in West Virginia had a bachelor’s degree in 2012, the lowest figure in the country. Nationally, it was 29.1%. Students from in state going to a four-year West Virginia public college or university are paying roughly 25% more than they were five years ago. Still, even with that increase, West Virginia is among the cheapest states in the country. Students, however, are still facing financial problems. West Virginia had among the highest default rates in the country. This may be due in part to the relatively low income of the state’s households. In 2012, West Virginia had the third lowest median income in the country.

In the last five years, in-state public university tuition and fees have risen just 9.6%, less than all but three other states. Further, attending the flagship University of Montana costs less on average than the state’s combined average tuition and fees. The cost of a higher education in the state is also low despite limited state appropriations. For the 2012-2013 year, the state set aside just $5,000 per student, one of the lowest figures in America. Earlier this year, Montana State University professors voted to decertify its faculty union, eliminating collective bargaining among professors.

Between 2001 and 2011, full-time college enrollment in New Mexico increased by nearly 40%, more than all but four other states. This may be a good sign for institutions and education as a whole, but those educated in the state are struggling to repay student debt. Over 15% of students have defaulted on their debt, which is worse than any other state. This could be in part due to the state’s relatively low median household income of just $42,558. Last year, the New Mexico Higher Education Department was awarded $33.8 million from the U.S. Department of Education to better prepare students for college. The governor noted the funds would be directed towards high-poverty areas in the state.

Tuition and fees at a public four-year university cost less than $6,000 on average in Utah, just one of four states in which this is the case. However, the flagship University of Utah is slightly more expensive, averaging close to $7,500. In addition to carrying a low sticker price, Utah’s universities have not saddled their students with a considerable amount of debt. In the class of 2011, less than half of all graduates carried debt, and the average debt per graduate was the lowest reported in the nation. Not only is a public education affordable for in-state residents, but private schools in the state cost an average of just $6,300. This figure may have been pushed downward by the low tuition at Brigham Young University, which is subsidized by The Church of Jesus Christ of Latter-day Saints for tithe-paying members. Members of the church accounted for nearly 99% of the student body last year.

Median household income in Alaska was the third highest in the nation, at $67,712 in 2012. Alaskan incomes are more than adequate for the cost of higher education, which is well-funded by the government. As of the 2012-13 school year, the Alaskan government spent the most per full-time student out of every other state, more than $17,000. The low prices, however, have not attracted high volumes of students. Full-time enrollment in 2012 at the University of Alaska was just 3,609, less than the second-lowest University of South Dakota. Overall, full-time undergraduate enrollment across the state was the lowest in the U.S., with 21,200 students enrolled in two- or four-year colleges as of fall 2011.

The University of Wyoming is the only public four year college in Wyoming. Out of state tuition and fees are some of the lowest in the country, more expensive than only South Dakota. Higher education in Wyoming, like in Alaska, is well-funded by the state government -- as of the 2012-13 school year, the state spent over $15,000 per fully enrolled student. Under half of the class of 2011 graduated with debt, one of the lowest rates nationally.